Browsing: US investments in Africa

The Lobito Corridor represents a significant transport infrastructure project in Africa. The project will now become a reality with the backing of the US. Moreover, this is one of the projects through which Washington seeks to strengthen its investment ties on the continent. This project entails a transportation network that links northwest Zambia to Angola’s Benguela railway, ultimately connecting to the strategic Lobito port, the second largest seaport in oil-rich Angola.…

• Nigeria is currently the United States’ 54th largest goods trading partner, with US$7.8 billion in total goods trade as of 2019
• The top export categories in 2019 were: vehicles at US$938 million, cereals, especially wheat, at US$494million), machinery at US$479million, mineral fuels at US$287 million, and plastics at US$189 million
• The top import categories were mineral fuels at US$4.4 billion, special other (returns) at US$80 million, oil seeds and oleaginous fruits at US$15 million, fertilisers at US$11 million, and cocoa at US$10 million

The value of trade between Nigeria and the United States has continued to grow, data by the Office of the United States Trade Representative shows. According to the resource centre, Nigeria is currently the United States’ 54th largest goods trading partner, with US$7.8 billion in total (two way) goods trade as of 2019.

The centre also reveals that goods exports totalled US$3.2 billion while goods imports totalled …